Court backs Nevada gambling regulator’s motion for a preliminary injunction against prediction markets operator
A Carson City judge has handed the Nevada Gaming Control Board (NGCB) another legal victory in its ongoing campaign against unlicensed prediction markets, issuing a preliminary injunction that bars Polymarket from conducting business in the state.
First Judicial District Court Judge Jason Woodbury granted the motion on Friday, with a formal written order expected to follow shortly.
The ruling targets QCX LLC, the New York-based cryptocurrency firm behind Polymarket US, and marks the third such injunction Nevada regulators have secured in recent months.
The regulator previously won similar rulings against Kalshi and Coinbase, effectively clearing the state of the leading prediction market operators.
“We are very pleased with Judge Woodbury’s ruling and will continue to vigorously enforce Nevada law to safeguard gaming in our state,” said Nevada Gaming Control Board chairman Mike Dreitzer.
Nevada’s push against the industry began in March 2025, after regulators determined that prediction markets offering contracts tied to sports outcomes, elections, and entertainment propositions were engaging in wagering under state law without holding the required gaming licenses.
Officials have noted that the platforms could legally operate in Nevada if they went through the licensing process, which typically takes over a year to complete.
Prediction market platforms have pushed back, arguing that federal oversight by the Commodity Futures Trading Commission (CFTC) grants them the authority to operate in any US state, regardless of local gaming laws.
That jurisdictional argument has held more weight in federal courts, which is precisely why Nevada’s decision to pursue these cases through the state court system has proven so effective.
Several other states are still working through their own litigation against prediction markets, with mixed results.